For Sale: Saint Paul MLS# 7048283
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Property Description
This is a unique opportunity to acquire a well-maintained six-unit apartment building located in the highly desirable Summit Hill neighborhood of Saint Paul, Minnesota. Strong in-place income of
approximately $86, 000 annually with a 7.8% cap rate, featuring two newly built units and major recent capital improvements including a brand-new roof and boiler system. The property is ideally positioned near Grand Avenue with convenient access to I-94 and 35W, offering strong rents, low vacancy, and proximity to major retail, restaurants, and transportation corridors. This asset presents an excellent opportunity for both turnkey and long-term value-add investors seeking stable cash flow and long-term appreciation in one of Saint Paul’s most established rental markets.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$732,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1921
State:
MN
Property Style:
Other
Zip Code:
55105
Neighborhood/Area:
100
Subdivision Name:
Bryants Park Addition, No 4,
Interior
Bedrooms:
0
Bathrooms:
0
Exterior
Garage Spaces:
0
Foundation Size:
3,294 ft2
Handicap Accessible:
Partially Wheelchair
Heating System:
Boiler
Parking Features:
Unassigned
Lot & Land
Acres:
0.149
Geolocation:
44.936002, -93.14425
Inclusions:
Building, Land, Leases
Lot Dimensions:
6940
Zoning:
Residential-Multi-Family
Schools
School District:
2102
District Phone:
6517678100
Expenses
Annual Insurance Expense:
$4,948
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$14,114
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$14,114
Income
Annual Gross Income:
$90,504
Rent
Annual Net Income:
$57,157
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Matthews Real Estate Investment Solutions.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.